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Registered number: 07057133









GREY JUICE LAB LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
GREY JUICE LAB LIMITED
REGISTERED NUMBER: 07057133

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
48,758
201,081

  
48,758
201,081

Current assets
  

Stocks
  
-
115,508

Debtors: amounts falling due within one year
 5 
981,891
906,568

Cash at bank and in hand
  
144,372
121,216

  
1,126,263
1,143,292

Creditors: amounts falling due within one year
 6 
(1,056,385)
(1,205,379)

Net current assets/(liabilities)
  
 
 
69,878
 
 
(62,087)

Total assets less current liabilities
  
118,636
138,994

  

Net assets
  
118,636
138,994


Capital and reserves
  

Called up share capital 
  
20,000
20,000

Profit and loss account
  
98,636
118,994

  
118,636
138,994


Page 1

 
GREY JUICE LAB LIMITED
REGISTERED NUMBER: 07057133
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Crasneanu
Director

Date: 18 March 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
GREY JUICE LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Grey Juice Lab Limited is a private company limited by shares and incorporated in England and Wales. The registered office is Fifth Floor, 27 Greville Street, London, EC1N 8TN

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

  
2.4
Stocks

Licensed programming rights inventories for broadcast are amortised as cost. Such programming rights are included in inventories when the legally enforceable licence period commences.
The cost of the licensed programming rights is recognised in the cost of sales line of the profit and loss account on a straight line basis for the period in which the rights are available for programming. 

Page 3

 
GREY JUICE LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Foreign currency translation

Functional and presentation currency

The company's functional currency is USD. This differs from the presentational currency which is GBP. The reason for the difference is because the company's management present their internal financial reporting in GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 3).

Page 4

 
GREY JUICE LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Intangible assets




Crypto currency

£



Cost


At 1 January 2022
201,081


Additions
(152,323)



At 31 December 2022

48,758






Net book value



At 31 December 2022
48,758



At 31 December 2021
201,081



Page 5

 
GREY JUICE LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Debtors

2022
2021
£
£


Trade debtors
-
431,084

Amounts owed by group undertakings
603,998
368,335

Other debtors
356,596
90,752

Prepayments and accrued income
254
203

Tax recoverable
21,043
16,194

981,891
906,568



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
-
190

Trade creditors
428,836
589,352

Amounts owed to group undertakings
6,227
13,588

Corporation tax
-
100

Other taxation and social security
3,302
-

Other creditors
-
2,886

Accruals and deferred income
618,020
599,263

1,056,385
1,205,379



7.


Related party transactions

The company is a wholly owned subsidiary of Grey Juice Lab S.A.R.L and has taken advantage of the exemption conferred by Financial Reporting Standard 102, Section 33, not to disclose transactions with Grey Juice Lab SAS and other wholly-owned group companies.


8.


Ultimate parent undertaking and controlling party

The immediate and ultimate parent company is Grey Juice Lab S.A.R.L, a company registered in Luxembourg, by virtue of their 100% shareholding. 

 
Page 6